PRIME Minister Anthony Albanese has predicted the end of Chinese wine tariffs could deliver an even bigger windfall for wineries from their exports than before the trade relationship cooled during a visit to Hunter Valley wine country.
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Mr Albanese visited Brokenwood Wines at Pokolbin on Thursday, saying he believed an end in the lengthy and expensive stand-off was "imminent".
The tariffs, which make Australian exports to China significantly more expensive for potential customers in that market, have dogged the region for several years.
They extended out of hostilities that erupted between the two countries under the former federal government in 2020.
Mr Albanese noted the Hunter was "196 not out" after producing wine for almost two centuries, and he was bullish on its future prospects.
"We're going to help the hit to the boundary to get that double century in style with the resumption of trade with China," he said.
"China wants good high-quality wine, and Australia produces it in places like the Hunter Valley
"When the impediments to trade with China were put in place, the trade was worth in 2019, $1.1 billion every year.
"Now, we reckon that the resumption of trade, which we think is imminent, will see an even higher amount.
"Because that's what we've seen with other products that have been resumed, like barley, and some of the other products ... there's a couple more things to go, lobster, beef, and we're continuing to work on that."
Mr Albanese's comments come a week after China's most senior diplomat, Foreign Minister Wang Yi, wound up a visit to Australia.
Mr Wang was the most senior Chinese official to visit Australia since 2017 in a positive sign as the two nations work to repair ties put under pressure by the $20 billion trade sanctions.
The remaining tariffs of wine, lobster and beef are worth about $2 billion.
Following a meeting with Mr Wang at state Parliament in Sydney, NSW Premier Chris Minns said he was committed to fostering a "productive and stable" relationship with China.
"China is NSW's largest two-way goods trading partner, valued at $56.9 billion in 2022-23 - an increase of 13.5 per cent on the previous year," Mr Minns said.
Beijing has previously flagged removing wine tariffs by the end of the month, but China experts warned earlier this month uncertainty remained about precisely when a decision would be reached.
Australian Grape and Wine CEO Lee McLean said earlier this month that the body remained "cautiously optimistic about the forthcoming decision".
